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| Hilton Garden Inn Tampa North, 13305 Tampa Oaks Boulevard, Temple Terrace, FL |
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| Dan Peek |
TAMPA, FL – Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the $11.15 million sale of the Hilton Garden Inn Tampa North
hotel, a 148-key, limited-service hotel near the University of South Florida in
Temple Terrace, Florida.
HFF marketed the property on behalf of the seller. Excel Group purchased the offering free and
clear of debt.
The Hilton Garden Inn Tampa North is located at 13305 Tampa
Oaks Boulevard in Temple Terrace, a suburb 10 miles northeast of Tampa.
The hotel is three miles from the University of South
Florida, six miles from Busch Gardens and has visibility from Interstate 75,
one of Tampa’s main arteries, which is one block away.
Completed in 2000 and
renovated in 2013, the hotel features 6,458 square feet of meeting space, a
fitness center, business center, outdoor pool and two dining choices, including
the Great American Grill and the Pavilion Lounge.
The HFF investment sales team representing the seller was
led by senior managing director and head of HFF’s hotel group Dan Peek, associate director Cyrus Vazifdar and real estate analyst Zach Nolan.
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| Cyrus Vazifdar |
“Tampa continues to be one of the fastest growing and most
desirable hotel markets in the country, with significant institutional capital
aggressively seeking opportunities,” Peek said.
“The Hilton Garden Inn generated an overwhelming amount of interest, a
testament to the long term outlook of the market.”
“This acquisition further marks the extension of our growth
while adhering to a disciplined strategy of acquiring well-located,
under-performing assets at a discounted basis,” added Shoham Amin, managing partner of Excel Group.
“With this
acquisition, our firm will have completed four acquisitions in Florida totaling
$50 million in the first quarter of 2015.
We look forward to continuing this momentum throughout 2015 and
expanding our partnership with HFF.”
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| Zach Nolan |
During 2014, HFF’s Hotel Group closed more than $3.5 billion
in hotel transactions across all capital markets involving more than 100 hotels
and resorts.
The firm is particularly
active in Tampa Bay’s coastal region, where it has recently closed transactions
on hotels including the Hilton Clearwater Beach, Sandpearl, Hyatt Clearwater
Beach, Sheraton Sand Key and the Residence Inn Clearwater.
For a complete copy
of the company’s news release, please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 |
www.hfflp.com
